Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Investing in stocks involves risks, and it's essential to conduct thorough research or consult with a financial advisor before making investment decisions. Angel One Limited's stock has witnessed considerable price movements, currently trading at 2,870. The Bearish Engulfing pattern indicates a possible short-term pullback, coupled with an RSI reading of 54, reflecting a balanced market sentiment. The MACD remains in bullish territory but shows signs of weakening momentum, suggesting caution.
Support is seen at 2,860, while resistance is expected around 3,000 and 3,050. The ADX is moderate, showing that the trend is not particularly strong. However, the Awesome Oscillator and Momentum suggest there is still underlying strength in the stock. A key factor will be whether ANGELONE can hold above its support levels or see further selling pressure. Watch for a potential reversal from support, but traders should be wary of the current downtrend indicated by the technicals.
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